Category: Exploration and Development

Gainey Capital Corp. is pleased to announce that it has engaged Ore Drilling S de RL de CV of Hermosillo, Mexico as the contractor for its diamond drilling program at the Las Margaritas gold project in Durango. The Company has finalized the preparation of the infrastructure required including the repair and construction of approximately 39 kilometres of road and a water reservoir system to support the drilling.

Riverside’s President and CEO, John-Mark Staude, stated: “We are delighted to have closed the transaction and to be working with our dedicated Mexican team to progress these former mine areas with modern exploration and drilling. The recent success by companies like SilverCrest Metals, Premier Gold Mines, First Majestic, Agnico Eagle and others surrounding our project demonstrates the excellent potential for new discoveries in the district.”

We are very grateful to the constructive feedback we have received from local stakeholders, independent consultants and engineers, civil society organisations and individuals further afield that have improved the Ixtaca project over the past number of years. Our stakeholder engagement has focussed not only on supporters but has opened its doors to those known to have concerns. Our monthly technical sessions are open to all, have provided a safe environment for discussion and have made available experts in all aspects of the mining process. Our sponsorship of trips to operating mines elsewhere in Mexico have provided nearly 500 local stakeholders first-hand experience of the realities of mining.

“We are pleased to identify a new, large, and exciting resistivity anomaly at Cinco Senores,” stated Philip O’Neill, CEO and Director of Mexican Gold. “With our strong and improved financial position, we look forward to drilling the highly-prospective Cinco Senores target in the very near future.”

CEO John Lawrence said “As a result of lower antimony prices and increasing prices for gold and silver, USAC will prioritize precious metals. The Company is now very close to the start-up, testing and shake down of the Los Juarez gold and silver leach at the Puerto Blanco mill. The Company continues to take steps to reduce its costs of producing antimony products in response to the lower global sale prices.”